New Condo Buildings Will Complete The Arena District
When Nationwide Arena first opened its doors nearly 15 years ago, it signaled the launch of the Arena District in Downtown Columbus. In the early 2000s, the neighborhood was home to several new and renovated office and residential buildings, but much of the land surrounding the Arena was still made up of gravel parking lots that were being held for future development.
Many of those surface lots have been filled in with the recent completion of the Flats II apartments, McConnell parking garage and Columbia Gas headquarters. In fact, there’s only one remaining open spot for development in the entire original 75 acre site: an L-shaped wedge at the northeast intersection of Neil Avenue and Spring Street currently being used as surface parking.
Tina Guegold, VP of Marketing at Nationwide Realty Investors, confirmed that this final parcel is slated for condominium development, but had few specifics to share at this point in time.
“It will likely include multiple buildings developed in phases, but we haven’t decided yet how many yet,” she said. “This site was originally planned to have residential buildings since the very beginning of the development.”
The 20-story North Bank Condo building that is located across Neil Avenue from the development site was completed in 2007, just prior to the start of the national recession and housing market collapse. Most residential development in the Arena District since then has taken the form of for-rent apartment units, but Guegold says that a demand for for-sale condos has recently returned.
“There is only one condo left still for sale at North Bank, and we did see renewed interest in the condo market this past year,” she says. “We want to have condo products available on the market, but we’re still continuing to development apartments as well.”
Additional development is planned further west of the Arena District, in an extension area known as “Pen West”. NRI and several other developers have made preliminary plans to fill in over 25 acres of land with a mix of residential and commercial properties.
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